Multi-territory VAT compliance for a global industry leader like Sony Mobile Communications comes with challenges, for example, team rotation, country-specific processes and multiple data sources. To meet them, Deloitte’s Global Tax Centre Europe (GTCE) developed an application, supported by one of our innovation programmes, that allows the company to increase efficiency while improving the control and quality of its indirect tax reporting process. It’s also providing insights into the firm’s operations across Europe.

Indirect Tax SMART is streamlining European VAT compliance

Sony Mobile Communications

Boosting indirect tax compliance efficiency

The Indirect Tax SMART application has a proven track record for central delivery of pan-European indirect tax compliance services to some of the world’s largest multinational companies. It embeds over 18 years of practical experience in a continuously changing tax landscape.

Steve Abelsson, VAT Controller at Sony Mobile Communications, takes up the story. “We were facing a variety of challenges: changes in our team, a complicated structure and country-specific processes. We were looking for a different set of automated compliance tools. The ability to connect all information flows was the integration I was looking for.”

Starting in May 2016, the application was rolled out across more than ten countries in Europe. “It happened smoothly,” says Steve Abelsson. “The Deloitte team has been very helpful. Now that everyone on my team is used to it I’ve only heard praises. People realise SMART complements what they’re doing. It reduces the workload, which allows us to go deeper into the business. It will help with audits because it’s so easy to trace back. And through the dashboard I have quick access to all the data we need.”

The SMART application is used by a number of other multinationals with similar success. The pipeline of companies interested in this new offering continues to grow, both in Belgium and globally.

“We were looking for a different set of automated compliance tools. The ability to connect all information flows was the integration I was looking for.”

For Belgium-based high-tech firm Materialise, sustainability has various facets. Its 3D printing innovations use lighter (or less) material than conventional fabrication methods, without compromising quality. The technology allows goods to be made on the spot where they’re needed, cutting transport costs and CO₂ emissions. And the company is working to lower consumption of water, energy and materials. Moreover, the firm realised it needed a sustainable tax strategy. One that would work not only today, but also tomorrow. Looking for a tax partner that could bring the most added value, Materialise chose Deloitte Private.

The story begins in early 2016 with Deloitte’s International Tax team, a part of Deloitte Private, which provides multidisciplinary services to Belgium’s family-owned firms, growth companies and high-net-worth individuals. Business Tax Partner Glenn Verstraelen recalls, “First we had a kick-off meeting with the CEO and CFO to learn about their needs and objectives. They wanted a global advisor with one point of contact.”
Deloitte was asked to examine the company’s overall tax strategy. At the time, each country had its own cost-driven approach. This didn't take into account the full picture, for example how an action in one country might violate tax strategy in another. “We started by looking at operations, people and where the company’s intellectual property is located,” Glenn Verstraelen says. “We then did several projects, prioritising the jobs and taking it step by step.”
Multidisciplinary capabilities
The International Tax team succeeded in reducing the company’s effective tax rate and rationalised the group structure in several European countries. Working with Deloitte Shanghai, it also assisted Materialise by advising on legal contracts and transfer pricing for its operations in China.
At first, the team focused mainly on tax and then expanded to provide other services, for instance, finding additional financing for R&D projects. Deloitte was able to bring in specialists from across the firm, as well as from Laga, who helped Materialise explore new funding opportunities. And recently, Consulting has been providing pricing analysis services for the company’s healthcare segment.

“We’re working together with Deloitte Private to ensure a sustainable future for our company. They not only advise us on tax, legal, financial advisory and consulting matters, but can also tap into their global network.”

For high-tech firm Materialise, sustainability has many facets. While moving to 3D printing, incorporating more technology and lowering its consumption of water, energy and materials, the firm realised it also needed a sustainable tax strategy. Looking for a tax partner that could bring the most added value, Materialise chose Deloitte Private.

Most of us know the feeling of being young and searching for a job. One organisation determined to help young people looking for work is VDAB, the public employment service of Flanders. It even promised to make a job available to graduates within three months of leaving school.

To help achieve this ambitious goal, in 2016 the VDAB decided to work with Deloitte’s Cognitive Analytics team. Encompassing such fields as machine learning, natural language processing and speech recognition, cognitive technologies enable organisations to boost the speed and quality of services while cutting costs.
Fons Leroy, CEO at VDAB emphasises, “Innovation is very important for us. We want to do more with less, responding to a high customer demand for quick and better services.”
The team’s first step was to use the “cognitive value map”, a Deloitte approach for showing organisations the value that cognitive technologies can offer. Many different ideas were collected about cognitive applications that could support VDAB activities – today and in the future.

“Innovation is very important for us. We want to do more with less, responding to a high customer demand for quick and better services.”

The Cognitive Analytics practice team defines strategies for their clients about how disruptive technologies and innovations can help improve their services.

Cognitive applications provide people with a personalised experience through digital channels.

Yves Toninato, Senior Director, Consulting

Meet Malcolm, the cognitive job coach

The team asked themselves: If VDAB didn't exist, what would we put in its place? This led to the creation of Malcolm, a friendly chatbot that could be available 24/7. Through an online conversation, Malcolm will match a jobseeker’s competencies with an appropriate job opening. The job coach will even evaluate how well the candidate’s profile would fit into the company culture. Employers will be able to use the platform to reduce the administrative burden of finding a suitable recruit.
Malcolm brings these two sides together in a whole new way, explains Yves Toninato, Senior Director at Deloitte Consulting in the Cognitive Analytics practice. “Cognitive applications provide people with a personalised experience through digital channels. For the VDAB, it means that assessing and supporting 70,000 graduates can be done more rapidly and efficiently.”

Sustainability is high on the agenda at Deloitte Financial Advisory, which is advising on multiple projects for clients working to provide sustainable solutions to the world’s challenges. So when Enhesa – an environmental, health & safety (EHS) regulatory compliance provider – wanted to look for a partner to support its ambitious growth plans, the company turned to Deloitte for advisory services.

Helping Enhesa achieve its high growth plans

Enhesa

Today’s increasingly globalised companies need to cope with ever-more complex EHS compliance requirements. Enhesa, the market leader in global EHS compliance assurance, supports businesses worldwide, helping them become more sustainable. With offices in Belgium, the US and Japan, it keeps companies informed, provides advice, develops benchmarking tools, and delivers audit and management support to well over 500 clients.

Following an introduction through the Deloitte network, Deloitte Financial Advisory was chosen and received the mandate to act as the exclusive M&A adviser to find the right partner and help Enhesa accelerate its international growth strategy. The company was convinced by the industry expertise, hands-on approach and impressive investor access via the Deloitte network. The Financial Advisory team organised a limited but competitive auction process with a set of domestic and international bidders. Ultimately, Waterland won the bid, purchasing a majority stake in Enhesa.

"Our collaboration with Deloitte enabled us to attract the right partner and leverage our international growth."

Enhesa CEO Peter Hermans commented, “With Waterland as a partner, we are convinced we can accelerate our growth plans. They offer the expertise and capital we require.”

Serge Prosman, Deloitte Financial Advisory Partner, added, “We are proud to have contributed to Enhesa’s mission to bring sustainable EHS regulatory compliance to global businesses. I think it’s an excellent example of the way we think alongside our client and translate strategy into a clear-cut equity story to attract the right partners.”

I think it’s an excellent example of the way we think alongside our client and translate strategy into a clear-cut equity story to attract the right partners.

Serge Prosman, Partner, Financial Advisory

In today’s business landscape, corporate social responsibility (CSR) is no longer a trend. It’s the norm. Stakeholders and society at large demand more than pure financial reporting. They want to understand the business activities behind the figures and know the real impact companies have on people and the planet.

ECS European Containers Ltd. has taken note. As a logistics operator specialising in transport between the British Isles and mainland Europe, it recognises the environmental impact of its business and has embraced sustainable logistics in day-to-day operations. In 2015 the company approached Deloitte to structure its CSR strategy and transparently inform its stakeholders and society about the impact of its activities. The Deloitte Sustainability Team prepared a sustainability report for ECS based on the company’s CSR programme, which includes its 2020 ambition of “Creating sustainable reliable logistics.”

This is a good example of how our offerings can be customised for our Private clients.

Tom Van Cauwenberge, Partner, Risk Advisory

A green competitive edge

Targets included reducing road transport, increasing train use and optimising empty container mileage. By 2020 the company aims to send 40% of shipments by train and to ensure that all containers are fully loaded. But it doesn’t stop there. The green logistics chain extends to road safety and health, and to employee and customer satisfaction.

"By going greener ECS has a competitive edge,” explains company owner Kelly De Dijcker. “It also improves the way customers, stakeholders, regulators, investors and communities feel about our business. We now have a clear CSR programme and impact-reporting process. This enables us to follow up our CSR performance, and makes it visible to the clients and other stakeholders who care about our employees and the sustainability of our logistics chain.”
Partner Tom Van Cauwenberge says, “This is a good example of how our offerings can be customised for our Private clients.”

iTeos Therapeutics develops immunotherapies solutions: groundbreaking treatments using the immune system to fight cancer. To support large ambitions and significant market potential, a biotech company requires good advice. iTeos Therapeutics chose Deloitte Audit.

Helping a young local biotech succeed globally

iTeos Therapeutics

Based in Gosselies, Belgium, iTeos Therapeutics has around 40 employees and a fast growing revenue. Yet to become a world-class leader, it faces the same challenges as big companies.
Why did iTeos Therapeutics opt for Deloitte? First, they recognised our expertise in the biotech field. Second was the Audit team’s ability to take innovative approaches to managing the audit process pragmatically to fit with their current context. Finally, iTeos Therapeutics also knew that Deloitte’s multidisciplinary capabilities would facilitate the Audit team’s interactions with all stakeholders.

“The success of iTeos will be built on the strengths of its stakeholders: Deloitte combines global expertise with in-depth knowledge of biotech challenges.”

Our aim is to focus on companies with strong potential and help them achieve success in every step of their growth path.

Julie Delforge, Partner, Audit

Transparency and confidence

Deloitte’s global network was another important factor for the company. It would allow iTeos Therapeutics to interact with potential partners anywhere in the world. A final strong point was Deloitte’s reputation and expertise in helping companies assure transparency and confidence, qualities that are part of the iTeos Therapeutics’ DNA.
Once the mandate began, the Audit team started providing advice on technical matters. The collaborative chemistry has been excellent. Deloitte has shown flexibility in working with the company’s existing auditor and in adapting to the specific needs of iTeos Therapeutics. Deloitte Partner Julie Delforge explains, “Our aim is to focus on companies with strong potential and help them achieve success in every step of their growth path.”

Within the space of ten years, Lamett has put itself on the map. The West Flemish manufacturer and distributor of high quality wooden flooring, has a staff of 300 people around the world and markets in more than 20 countries. To help plan its next steps, the company reached out to Deloitte Accountancy.

Guiding a growing SME

Lamett

Bruno Descamps, Lamett’s CEO, thought it was time for a strategic analysis. "The exercise would be an excellent reflection opportunity,” he explains. The company had achieved its growth by implementing a consistent, clear vision and creating an identity. “What we do on the ground affects how our company is perceived by the outside world. We fulfil this with credibility, reliability and daring, and investing in good people. Building our reputation is one of our core values."
Why did the company choose to work with Deloitte Accountancy? According to Bruno Descamps, "We wanted to sit down with people who could guide us in the right direction. After the first meeting with Deloitte we had a true feeling of satisfaction and were able to see some really tough issues in a new light. It took us to a whole different level."
Karel Vercruysse, Director at Deloitte Accountancy adds, “The company decided to set up a strategic growth plan. They discussed where they were in the value chain, what direction they wanted to take and what their weaknesses were.” This SWOT analysis led to a process of systematic organisation guided by Deloitte practitioners. “It’s something we could never have done with the same discipline," says Bruno Descamps.

“After the first meeting with Deloitte we were able to see some really tough issues in a new light. It took us to a whole different level.”

Entrepreneurship, innovation and broadening its value chain: these were the key drivers of Lamett’s successful growth over the last four years.

Karel Vercruysse, Director, Accountancy

Cross-channel model

“It became clear that Lamett’s distribution model was stuck between production and retail,” remarks Karel Vercruysse. The solution was to make a larger impact in the value chain. “We decided to take the lead on the side of production and produce more ourselves. But also be more assertive on the retail side and approach customers directly without offending our partners,” Bruno Descamps explains. While remaining a B2B company, Lamett is gradually evolving towards a cross-channel model, allowing consumers to shop directly instead of having to go to dealers.
The internet and the increasing autonomy and knowledge of consumers pose a large challenge for the company. “The market is like a big bus,” Bruno Descamps says. “In the past the producer sat at the steering wheel and determined what consumers were going to eat, wear or buy. Transparency at the consumer level is thus our biggest threat. On the other hand, consumers are attaching greater importance to sustainability and increasingly requiring environmental certifications.”
What did the company learn about strategic planning? "You have to plan at the right moment,” Bruno Descamps says. Karel Vercruysse agrees, “When they started out, some processes were already underway, which led to acceleration and decisiveness.”

Focusing on innovation and entrepreneurship, the Fast 50 programme ranks the top fifty fastest-growing technology companies in Belgium, selected by revenue growth over the previous four years. The programme recognises young companies and start-ups with revenue potential who have been active in the industry for less than four years as Rising Stars.

Deloitte’s Fast 50 Rising Star 2016

GuardSquare

Meet the 2016 Rising Star winner

GuardSquare is a software company specialising in mobile application protection, serving customers in the financial and e-commerce industries. We depend more and more on apps to manage our lives, including sensitive data such as purchasing and banking activities. With cybercrime becoming so widespread, security software is increasingly important.
The GuardSquare app enhances performance by making security solutions smaller and faster than competitors in the market. Designed to ensure the source code is impenetrable to hackers, the company’s multi-layered security software was developed over many years, evolving from a free open-source product to commercial software.
Today a diverse workforce in Belgium does all the development. The start-up has a positive cash flow and the commercial structure has being strengthened since the company profited from a revamped sales process in 2016. An ongoing challenge is finding skilled software engineers to continue improving the solutions. Co-founder and CEO Heidi Rakels advises other entrepreneurs to keep focused throughout the distractions and opportunities along the way.

“There are many programmes to help start-ups but this one is unique. Deloitte is raising awareness for young companies to help develop their brand and positioning in the market.”

GuardSquare stood out from the other nominees because they operate with a very scalable, innovative business and sales model. Their solution for securing mobile apps sells itself online, so they don’t have to invest in an extensive sales team. This is especially the case within the financial sector, given that a large portion of their clients are banks.

With a new CEO at the helm, Crelan was ready for a transformation. Belgium’s leading agricultural bank wanted to leverage its network of more than 600 agencies in Belgium to prepare the company for the future and lay out a strategy for ambitious growth. That’s when they turned to Deloitte for consulting and advisory services.

Under the leadership of CEO Philippe Voisin, Crelan worked with Monitor Deloitte to outline a strategy around four objectives: reaffirm Crelan’s identity and values, be ambitious and competitive, secure the company’s long-term development and deliver profitable results over several years.
Rapid developments in technology, regulations and society made Crelan ask some important questions: What is our relevance? How do we differentiate ourselves? Why does someone choose to bank with Crelan versus another bank? Why does a client come to the bank in the first place? Together with Deloitte, Crelan is finding answers to these questions and launching its plan to create opportunity from disruptive shifts.

“There are three current developments that are impacting today’s banking world. Rapid technological innovation, an ever-evolving regulatory landscape and, perhaps most importantly, an overall shift in society. We are moving from a society focused on ownership and individual consumption to one based on the use of goods and sharing.”

After a long and positive relationship with our audit partners, we started to work with Crelan last year on their transformation plan. The plan aims at leveraging the solidity of the bank and future-proofing it with a strategy for growth, new digital solutions and preparedness to meet new regulatory requirements.

Kasper Peters, Partner, Financial Services

As Crelan continues its transformation the bank is investing in new digital solutions for clients that make everyday transactions easier. At the same time the CEO is investing in Crelan’s people and the bank’s 600 agencies. This will ensure that clients know they can come to Crelan at key moments – when they want to buy a home, if something unexpected happens or when they need financial advice from someone they can trust.

At Deloitte we celebrate the unique perspectives and strengths of the people who enrich our diverse network. We value their engagement and respect their private lives. We encourage our people to take every opportunity to grow so they are fulfilled – personally and professionally. We believe that the passion and entrepreneurial spirit of our people help foster a positive, winning atmosphere. Simply put, every day our people are performing at their best and putting exceptional services into practice.

Driven by our people

Our Simply Irresistible Organisation

Deloitte aims to become a Simply Irresistible Organisation to attract more than 4,000 people by 2020. By enabling our people to grow, so will our organisation. We’re creating a firm they’re proud to work for and that they encourage others to join. Our people are our best ambassadors.

"At Deloitte we offer more than just a career, we offer a talent experience!"

We enable our people to maximise their strengths and talents, and foster their entrepreneurial spirit. We encourage them to own their role, challenging them to stretch beyond what they thought possible and making an impact that matters.

Great management

We help our people reach their full potential through coaching, feedback and development opportunities.

An inclusive, flexible, fun environment

We want to create a great environment where the work of our people is recognised. We invest in their wellbeing and give them the flexibility to balance their work and private lives. They are continuously inspired by our diverse network of people and enjoy both working and having fun together.

Growth opportunities

We support our people with training, prepare them for new challenges, and encourage them to embrace career opportunities across our local and global network.

Cultivate open communication with leaders

We want to give our people a clear and compelling company vision that they can believe in. Inspirational leadership is key.

See our Simply Irresistible Organisation in action:

Deloitte is creating a meaningful, human work environment to drive engagement and performance.

To ensure that our people get the most out of their Deloitte experience, we focus on the five elements that drive engagement and create a simply irresistible organisation:

We are committed to making Deloitte a Simply Irresistible Organisation for each and every one of our talents: future, current and alumni.

Inge Diels, Chief Talent Officer

The entire partnership and I take the responsibility of leadership very seriously, aware that every decision we make for our firm affects the lives of over 3,500 people.

Piet Vandendriessche, CEO Deloitte Belgium

Strength from cultural diversity is one of Deloitte’s shared values, and we recognise that our diversity represents an enormous opportunity. That’s why Deloitte Belgium is taking steps towards having a gender-balanced leadership. We understand that making these profound changes won’t happen overnight. But a defined purpose – with a structure, clear targets and supportive policy changes – will take us in the right direction.